European Energy and EIG Global Energy Partners (EIG) have closed a facility of €130 million for green energy construction.
The Portfolio Construction Facility will start financing wind projects in European Energy’s rapidly growing renewables business in Lithuania. European Energy has started the construction of more than 300 MW in Lithuania in 2021 and has a development pipeline exceeding 1 GW in the country. The facility is multijurisdictional, meaning it may later be applied to finance projects in other countries and markets.
“This financing is a milestone for European Energy and it is an essential step towards having the freedom to choose the right and value optimised solutions for renewable energy solutions across the markets that we operate”, said Knud Erik Andersen, Chief Executive Officer of European Energy.
European Energy has initiated construction of more than 1 GW renewable energy projects in various markets during 2021.
“EIG is delighted to provide this flexible form of construction financing to support European Energy’s global growth plans in renewables”, said Simon Hayden, Managing Director of the company.
For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.
Energy Global's Summer 2021 issue
The Summer issue of Energy Global features a varied spectrum of in-depth technical articles detailing recent projects, future projections, and technological advancements in the renewables sector, from companies including CEWEP, Enel Green Power, Turboden S.p.A., Cornwall Insight, and more.